English

EXCLUSIVE: Romanian Public Cos’ Mandatory Donations Required At Least Until 2014 – Draft Budget

13:19, 17 Oct. 2010
The system of donations aimed at reducing the effects of the crisis, imposed by the Romanian Government on public bodies and state-owned companies, will carry on at least until 2014, earning the state up to an estimated 1.6 billion lei (EUR1=RON4.2779) per year.

Romania Keeps Pension Frozen Next Year, Lowers Wages, Investment Budgets

12:42, 17 Oct. 2010
Romania’s Government plans to keep pensions frozen at their current level throughout 2011, cut local budgets and funds for wages and investments, according to the draft state budget for next year, obtained by MEDIAFAX.

Romania Eyes 16.6% Higher Revenue From VAT In 2011 – Draft Budget

12:41, 17 Oct. 2010
The Romanian government targets higher revenues from taxes and duties in 2011 following the introduction in July of a 5 percentage-point increase in the sales tax to 24%, according to next year’s draft budget.

Romanian President, PM To Discuss Fin Ministry Incentives Sunday

12:29, 17 Oct. 2010
Romania’s President Traian Basescu and Prime Minister Emil Boc will meet Sunday to discuss the situation of bonuses at the Finance Ministry, following two days of protests among ministry and fiscal administration employees over unpaid incentives, Basescu told Pro TV in an interview Sunday.

Romanian President Unreservedly Supports Precautionary IMF Agreement

12:18, 17 Oct. 2010
Romania’s President Traian Basescu is an unreserved supporter of an open credit line from the International Monetary Fund, the head of state told Pro TV in an interview Sunday.

Ion Tiriac, Dinu Patriciu, Ioan Niculae Are Romania’s Richest Businessmen – Top 300 Capital

17:10, 16 Oct. 2010
Romanian businessmen Ion Tiriac, Dinu Patriciu and Ioan Niculae occupy the top three positions in this year’s Top 300 richest Romanians, an annual ranking by business weekly Capital.

Romanian Health Ministry Working On New Legislation On Public Healthcare Sys

16:26, 16 Oct. 2010
Romania’s Health Ministry is working on a new pack of laws regulating the healthcare system in a move to ensure fair social healthcare contributions and a more efficient National Health Insurance House, minister Cseke Attila said Saturday.

Romanian Parliament Might Debate No-Conf Motion On Oct 25

16:06, 16 Oct. 2010
Romania’s Senate chairman, social democrat Mircea Geoana, said Saturday before a party congress, the no-confidence motion the opposition social democrats and liberal plan to submit Monday is likely to be debated in parliament on October 25.

Romanian President Calls On Parliament To Adopt Pension Bill ASAP

15:39, 15 Oct. 2010
Romanian President Traian Basescu on Friday sent a letter to Senate Chairman Mircea Geoana, calling for the speedy adoption of the unitary pension bill, the presidential office said in a press release Friday.

Romanian Prison Guards Protest Before Ruling Party HQ

14:00, 15 Oct. 2010
Around 100 Romanian prison system employees are protesting Friday in front of the ruling Democratic Liberal Party's main office against salary cuts, the "rigged" vote on the pension bill, "incompetent Government" and president "who would be dictator."

Romania’s September Annual Inflation, Highest In EU

12:50, 15 Oct. 2010
Romania posted the highest inflation in the European Union for the second consecutive month in September, while the EU average rate accelerated to 2.2%, from 2% in August, official data showed Friday.

Tens Of Romanian Teachers Picket Education Ministry HQ

12:25, 15 Oct. 2010
About 60 Romanian teachers on Friday picket the headquarters of the Education Ministry in protest over Education Minister Daniel Funeriu’s refusal to talk with their representatives.

Romania New Car Market Falls 30% In First 9 Mos, 5th Biggest Decline In EU

12:09, 15 Oct. 2010
Romania's new car market registered the fifth biggest decline in the European Union in January-September, of 29.7% on the year, compared to an average decline of 4.3% in the EU, according to the European Association of Carmakers (ACEA).

Teachers In Capital Bucharest Start Spontaneous Protest, Call On Education Min To Resign

21:03, 14 Oct. 2010
Tens of teachers in capital Bucharest staged a spontaneous protest Thursday evening and decided to head for the headquarters of the Education Ministry where they will stay until Education Minister Daniel Funeriu resigns.

Romanian Labor Ministry To Grant Bonuses To Employees Based On Performance Criteria

19:38, 14 Oct. 2010
Romanian Labor Minister Ioan Botis said Thursday that the ministry has a bonus fund and that, after talks with unionists, it was decided that bonuses will be granted based on performance criteria.

Romanian Finance Ministry Employees Halt Protests

18:58, 14 Oct. 2010
Romanian Finance Ministry employees, who have been protesting over unpaid bonuses since Wednesday noon, decided Thursday evening to renounce protests after they were told that bonuses for August and September will be paid.

Romanian Media Owner Sorin Ovidiu Vintu To Be Investigated For Money Laundering

18:19, 14 Oct. 2010
Romanian media owner Sorin Ovidiu Vintu will be investigated for money laundering in a new file related to that in which he is accused of aiding and abetting convict Nicolae Popa, a former manager of company Gelsor sentenced to jail time for fraud, according to prosecutors’ bill of indictment.

Romanian State-Owned Railroad Cos Owed RON5.6B In Aug

18:11, 14 Oct. 2010
The state budget debts owed by the three Romanian state-owned railroad companies, CFR SA, CFR Marfa and CFR Calatori, cumulated 5.6 billion lei (EUR1=RON4.2765) at the end of August, while the overall loss reached RON721 million, according to local Transport Ministry data.

Romanian Automobile Dacia Won’t Make Hybrid Cars In Near Future – Official

16:52, 14 Oct. 2010
The strategy of Romanian carmaker Automobile Dacia does not include the production of hybrid cars, as the national infrastructure and various interests in the oil field will not allow the development of a profile market in the near future, Dacia vice-president Constantin Stroe said Thursday.

Romanian Finance Minister Says Employees To Get Bonuses For Aug, Sept

16:43, 14 Oct. 2010
Romania’s Finance Minister Gheorghe Ialomitianu on Thursday told ministry employees protesting over unpaid bonuses that bonuses for August and September would be paid, but only after a commission of unionists and ministry officials analyzes how they are granted.

Romanian Media Owner Sorin Ovidiu Vintu, Two Alleged Accomplices Indicted In Fraud Case

16:21, 14 Oct. 2010
Romanian prosecutors indicted media owner Sorin Ovidiu Vintu, his driver Alexandru Stoian and Moldovan businessman Octavian Turcan on charges of aiding and abetting convict Nicolae Popa, a former manager of company Gelsor sentenced to jail time for fraud.

Romanian Health Min: State Will Pay Overdue Debts To Drugstores Countrywide By Yearend

15:38, 14 Oct. 2010
Romanian Health Minister Cseke Attila on Thursday said the state has paid almost EUR250 million in overdue debts to drugstores countrywide over the past few weeks, adding there are enough state budget funds to pay debts to all drugstores by the end of the year.

Romanian Tour Operators’ 9-Mo Revenues Dn Up To 25%

15:28, 14 Oct. 2010
Romanian tour operators sold 2.5 million holiday packages in the first nine months of the year, but revenues dropped by up to 25%, as tourists chose cheaper holidays, said National Association of Tour Operators (ANAT) president Corina Martin.

Bucharest Court Of Appeals Suspends Insolvency Procedures Against Airline Blue Air

14:54, 14 Oct. 2010
The Bucharest Court of Appeals suspended insolvency procedures against Romanian low-cost airline Blue Air, the airline operator said in apress release Thursday.

Romania Ctrl Bker: Public Sector Too Overcrowded To Allow Decent Pay

14:30, 14 Oct. 2010
Romanian public workers need decent wages, but the system is too overcrowded to allow that, an official at the central bank said Thursday.

Romanian Union Federation Calls On All State Employees To Cease Work Over Pay Cuts

14:24, 14 Oct. 2010
Romanian union federation Cartel Alfa called on all public sector workers Thursday to cease work and urged the Government to pay people’s full wages and bonuses and reverse a 25% pay cut implemented in July.

Romanian Transp Min To Be Named Co-President Of EPP Transport Ministers’ Forum

13:51, 14 Oct. 2010
Romania’s Transport and Infrastructure Minister Anca Boagiu Friday will be appointed co-president of the Forum of Transport Ministers members of the European People’s Party (EPP), alongside former EU Commissioner for Transport Antonio Tajani.

Romanian Public Sector Employees Protest In Bucharest, Countrywide Over Unpaid Bonuses

13:09, 14 Oct. 2010
Hundreds of Romanian public sector employees are protesting Thursday in capital Bucharest and countrywide over the non-payment of wage bonuses and incentives.

Hundreds Of Finance Ministry Employees Continue Countrywide Protests Over Unpaid Bonuses

10:31, 14 Oct. 2010
Hundreds of employees of the Romanian Finance Ministry and local fiscal administration departments throughout Romania are protesting over unpaid bonuses for a second day in a row Thursday.

Negotiations With Romanian Finance Minister Have Hit „Deadlock” – Union Leader

20:19, 13 Oct. 2010
Romanian "Sed Lex" union leader Vasile Marica Wednesday evening told the Finance Ministry employees protesting the non-payment of their bonuses that talks with Minister Ialomitianu have hit a "deadlock" and he has sent for food and water for those that will go on striking.

Romanian Fmr MP Nati Meir Sentenced To Seven Years In Prison For Fraud

17:11, 13 Oct. 2010
The Court of Bucharest on Wednesday sentenced former Romanian lawmaker Nati Meir to seven years in prison for defrauding several people, whom he promised money in exchange for certain guarantees.

Gazprom Says Interested In JV With Romania’s Romgaz

15:54, 13 Oct. 2010
Russian natural gas monopoly Gazprom will send a team of experts to Romania to analyze the opportunity of a joint venture with local peer Romgaz, Gazprom’s president Alexei Miller said Wednesday.

Gazprom, Romania Sign MOI On South Stream Proj

15:33, 13 Oct. 2010
Russian natural gas giant Gazprom and Romanian authorities Wednesday signed a memorandum of intent on the possibility that the South Stream pipeline may transit Romania, Gazprom’s chief Alexei Miller said.

Hundreds Of Romanian Public Finance Sector Employees Stage Spontaneous Protests Over Wage Cuts

15:32, 13 Oct. 2010
Hundreds of Romanian employees with the Finance Ministry and the National Agency for Fiscal Administration (ANAF) in capital Bucharest Wednesday staged spontaneous protests over significant wage reductions triggered by the elimination of their wage bonuses.

Bread Price In Romania Could Rise Up To 30% By Yearend – Agric Union Leader

14:18, 13 Oct. 2010
The price of bread in Romania could increase by up to 30% by the end of the year on higher wheat prices and tax evasion in the processing sector, said Wednesday Niculae Stefan, head of the National Federation of Unions in Agriculture, Agrostar.

Romania Jan-Aug Current Account Gap Widens To EUR4.07B

12:36, 13 Oct. 2010
Romania's current account deficit widened 48.7% to EUR4.07 billion in the first eight months, from a gap of EUR2.74 billion a year earlier, largely due to the falling current transfers surplus, central bank data showed Wednesday.

Romanian Govt Eyes New Social Spending Cut Measures – Working Draft

11:57, 13 Oct. 2010
The Romanian Government plans to eliminate exemptions from the payment of phone and radio-TV subscriptions for war veterans and also to cut allowances for people with disabilities and replace them with fixed sums, according to a Government working draft aimed at cutting social spending.

Romanian Govt To Seek Confidence Vote Over Education Bill – Sources

18:54, 12 Oct. 2010
Romania's Government decided in its Tuesday meeting to seek a confidence vote in Parliament to pass the education bill, starting procedures to this end on Wednesday, people close to the matter told MEDIAFAX.

Romanian Food Prices Might Climb 10% To 25% – Producers

16:56, 12 Oct. 2010
Food prices in Romania will rise by 10-25% in the following months, said Viorel Matei, president of the National Federation of Romanian Agricultural Producers (FNPAR).

Romanian Banks Should Rethink Business Strategies – Ctrl Bker

16:24, 12 Oct. 2010
Romanian banks should reconsider loan reimbursement risks and change their business strategy to prompt lending and economic revival, an official of the central bank said in a presentation.